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Intersouth Partners, a venture capital firm that provides entrepreneurs with early stage capital, has named Katrin Burt and James Rosen as partners.
Burt (pictured) has been an associate of the firm since 2007 as a member of the technology team. She joined Intersouth in 2004 as an analyst, working with the firm’s investment team on the analysis of potential new investments and the growth of Intersouth’s existing portfolio companies.
Burt joined Intersouth from HSBC, where she was a foreign exchange trader in London, managed portfolios of treasury products and equities in Tokyo and eventually moved to a business development role
Jersey’s private equity industry still faces anxious times ahead as the European Union deliberates over the content of its proposed Alternative Investment Fund Managers Directive.
Private equity firm Celtic Therapeutics Holdings will invest up to USD15m in the development of Spirogen’s lead cancer drug, SG2000.
Spirogen expects to continue clinical development of SG2000 in an upcoming National Cancer Institute-sponsored multi-centre phase II study of SG2000 in the US in resistant and refractory ovarian cancer.
SG2000 (previously known as SJG-136) is a highly potent DNA-interactive molecule that has demonstrated anti-tumour activity in multiple tumour types across a number of preclinical and clinical studies.
The development programme has benefited from more than USD20m of investment to date, including clinical trials sponsored by Cancer Research UK and the
HSA Commercial Real Estate, a Chicago-based real estate operating company, has retained Flint Creek Partners to identify qualified investors to invest in a non-discretionary programmatic joint venture focusing on investment activity in the industrial real estate sector.
The joint venture will target opportunistic acquisitions with a focus on mid-sized (100,000 to 400,000 square foot) warehouse, distribution and light industrial properties in leading industrial markets in the US.
The institutional investor’s USD75m equity investment will be used, with the company’s co-investment of USD7.5m, to fund over USD235,000,000 in potential investment activity.
HSA Commercial Real Estate currently owns a 72 property industrial
Dolphin Equity Partners has agreed to sell its portfolio company Gomez, a provider of Web application experience management, to Compuware, an application performance management software company.
The USD295m cash acquisition is expected to close in November 2009.
Dolphin is Gomez’s largest shareholder and first invested in the company in 2000, when it saw an opportunity to build on Gomez’s nascent Web performance monitoring assets, and has since played a pivotal role in defining the company’s direction.
Dolphin president Richard Brekka has been Gomez’s chairman of the board after a stint as interim chief executive in 2005, when he led the
Kohlberg Kravis Roberts has appointed Arun Sarin as a senior adviser.
Sarin (pictured) is the former chief executive officer of mobile telecommunications company Vodafone and had previously been a senior adviser to KKR.
Henry R. Kravis and George R. Roberts, co-founders of KKR, said: “We are delighted to welcome Arun Sarin back to the firm as a senior adviser. From our past close partnerships with Arun – starting when he became chief executive of Accel-KKR Telecom almost a decade ago and then as a senior adviser to KKR – we know first-hand of Arun’s deep knowledge, global relationships, and diversified
Global professional services firm Alvarez & Marsal has added nine senior professionals to its private equity performance improvement practice.
The announcement follows the recent hiring of eight professionals focused on private equity services in its transaction advisory and tax practices.
“Private equity firms continue to focus aggressively on enhancing the operational performance of their portfolio companies and we are seeing mounting demand for A&M’s hands-on operating experience and know-how,” says Nick Alvarez (pictured), national practice leader of A&M’s private equity performance improvement services. “We are delighted to welcome these world-class professionals to our growing and dynamic team. Each brings a
Transaction volume in the global asset management industry in the third quarter of 2009 was dominated by larger financial institutions shedding investment management businesses, and that trend will continue in the months ahead, according to Jefferies’ financial institutions group.
Over two-thirds of Q3 2009 global asset management M&A activity – 68 per cent – represented divestitures, a record level in a three-month period, according to Jefferies.
Prominent examples include Bank of America’s announced sale of the long-term asset management business of its Columbia Management subsidiary to Ameriprise; Bank of New York Mellon’s announced acquisition of Insight Investment Management from Lloyds
Infiniti Solutions, the Christchurch arm of the Infiniti Capital group, has been selected to provide fund administration services to a new private equity fund recently launched by Milestone Capital.
The Rutherford Innovation Fund was launched last week to raise capital to back innovative New Zealand companies which need financial assistance and business skills to commercialise their ideas on the international stage.
"The Rutherford Innovation Fund required an equally innovative solution for its legal structure and particular operational needs," says Infiniti Capital chief operations officer Adrian Whiteman. "Infiniti Solutions provided a team of expert advisors and professionals to assist Milestone Capital
Private equity firms invested USD763m in Indian companies across 47 deals during the quarter ended September 2009, according to a study by Venture Intelligence.
The amount invested was significantly lower than that during the same period last year, which witnessed USD2,581m invested across 132 deals, and lower compared to the immediate previous quarter (USD964m across 47 deals).
The latest numbers take the total PE investments in the first nine months of 2009 to USD2,360m across 140 deals, as against the USD9,479m across 365 deals during the corresponding period in 2008.
The largest investment during Q3 2009 was the USD255m investment
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